COE at 25K

[amiidae]

Cool.
Apart fm losing the balance COE, anything else (financial impact) shld I consider ?

[ray2828]

Originally Posted by amiidae

btw, to take advantage of the low COE, does LTA allow extension say 5 years of COE NOW for a car that is currently 8YO at the moment ?

Thats a good idea.

[juvenn]

Originally Posted by amiidae

Cool.
Apart fm losing the balance COE, anything else (financial impact) shld I consider ?

Ur Coe start from now + 5 years

[amiidae]

So once renew, no more scrap value is that correct ?

What if I decide to sell on the 2nd yr (means still have 3 yrs left) ? Got any value ?

[globalcookie]

Originally Posted by amiidae

So once renew, no more scrap value is that correct ?

What if I decide to sell on the 2nd yr (means still have 3 yrs left) ? Got any value ?

That's right. Once renew, remaining COE forfeited and PARF also gone. Not sure if road tax increase immediately by 10% a year till it hit 150%? I doubt it would, cos the increase is 11th year onwards.

On selling it after you renew, dealers will likely take in at paper value (ie outstanding COE value) plus at most, a bit more, or sometimes they even take in at 99% of paper value (that happened to me before). Situation might have changed now?? Not sure. Just guessing.

On 5yrs COE (renewal), you can't renew again once the 5yrs is up. Somehow, it just occur to me, is it worth renewing 5yrs when car is only 8 years old? You lose 2yrs COE, which if you add to the 5yrs, plus the lost of PARF, it actually works out to quite a lot of money, maybe even more than driving to 10yrs and scrapping it.

What's the current COE value? What's the PARF min at 10yrs or if you scrap now? What's the COE category? With these figures, maybe can calculate the est depreciation 5yrs if renew it now, and you can compare it with driving it to the end than decide nearer the date.

[mictok]

If based on COE at $25k for 10 years, 5 years will cost $12.5k, my car PARF value at $21k which probably take back $10k then my potential deprec will be $22.5k for 5 years which is $4.5k yearly

[onlyyouknow]

Originally Posted by globalcookie

That's right. Once renew, remaining COE forfeited and PARF also gone. Not sure if road tax increase immediately by 10% a year till it hit 150%? I doubt it would, cos the increase is 11th year onwards.

On selling it after you renew, dealers will likely take in at paper value (ie outstanding COE value) plus at most, a bit more, or sometimes they even take in at 99% of paper value (that happened to me before). Situation might have changed now?? Not sure. Just guessing.

On 5yrs COE (renewal), you can't renew again once the 5yrs is up. Somehow, it just occur to me, is it worth renewing 5yrs when car is only 8 years old? You lose 2yrs COE, which if you add to the 5yrs, plus the lost of PARF, it actually works out to quite a lot of money, maybe even more than driving to 10yrs and scrapping it.

What's the current COE value? What's the PARF min at 10yrs or if you scrap now? What's the COE category? With these figures, maybe can calculate the est depreciation 5yrs if renew it now, and you can compare it with driving it to the end than decide nearer the date.

You may wanna consider waiting. Heard from radio coe quota is going up so coe may come down even further.

[Ralliart_Ray]

Originally Posted by globalcookie

That's right. Once renew, remaining COE forfeited and PARF also gone. Not sure if road tax increase immediately by 10% a year till it hit 150%? I doubt it would, cos the increase is 11th year onwards.

On selling it after you renew, dealers will likely take in at paper value (ie outstanding COE value) plus at most, a bit more, or sometimes they even take in at 99% of paper value (that happened to me before). Situation might have changed now?? Not sure. Just guessing.

On 5yrs COE (renewal), you can't renew again once the 5yrs is up. Somehow, it just occur to me, is it worth renewing 5yrs when car is only 8 years old? You lose 2yrs COE, which if you add to the 5yrs, plus the lost of PARF, it actually works out to quite a lot of money, maybe even more than driving to 10yrs and scrapping it.

What's the current COE value? What's the PARF min at 10yrs or if you scrap now? What's the COE category? With these figures, maybe can calculate the est depreciation 5yrs if renew it now, and you can compare it with driving it to the end than decide nearer the date.

this statement is partially true only. so for example if amiidae's 8years old ride renew COE this month... the new COE will start this month with the old COE being forfeited, the PARF value is preserved until the car reached its 10years mark. so for example if amiidae decide to scrap his car next year (9th year), he will still get back his pro-rated COE and PARF.

[globalcookie]

Originally Posted by Ralliart_Ray

..., the PARF value is preserved until the car reached its 10years mark. so for example if amiidae decide to scrap his car next year (9th year), he will still get back his pro-rated COE and PARF.

My bad. I'm under the impression PARF is forfeited once COE is renewed.

So he will only lose the remaining portion of current COE, and the PARF will only be forfeited upon mature.

Thank you for the clarification.

[hkh]

So is this a good news ??

https://www.channelnewsasia.com/news...-2018-10522440